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Baker Hughes Announces March 2003 Rig Counts

International Rig Count Down 1% From February 2003; Up 2% From One Year Ago;

Worldwide Rig Count Down 3% From February 2003; Up 18% From One Year Ago

HOUSTON, April 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated
(NYSE: BHI; PCX; EBS) announced today that the international rig count for
March 2003 was 747, down five from the 752 counted in February 2003, and up 13
from the 734 counted in March 2002. The international offshore rig count for
March 2003 was 208, down 10 from the 218 counted in February 2003, and down 17
from the 225 counted in March 2002.

The US rig count for March 2003 was 941, up 34 from the 907 counted in
February 2003 and up 178 from the 763 counted in March 2002. The Canadian rig
count for March 2003 was 449, down 105 from the 554 counted in February 2003
and up 138 from the 311 counted in March 2002.

The worldwide rig count for March 2003 was 2,137, down 76 from the 2,213
counted in February 2003 and up 329 from the 1,808 counted in March 2002.

The Baker Hughes Rotary Rig Counts are counts of the number of drilling
rigs actively exploring for or developing oil or natural gas in the United
States, Canada and international markets. Baker Hughes has issued the rotary
rig counts as a service to the petroleum industry since 1944, when Hughes Tool
Company began weekly counts of US and Canadian drilling activity. Hughes
initiated the monthly international rig count in 1975. In 1987, Baker Oil
Tools began its monthly workover rig count.

North American rig count data is scheduled to be released at noon central
time on the last working day of each week. The international rig count and
North American workover rig counts are scheduled to be released on the 5th
working day of the month. Additional detailed information on the Baker Hughes
rig counts are available from our website at
http://www.bakerhughes.com/investor/rig .

Baker Hughes is a leading provider of drilling, formation evaluation,
completion and production products and services to the worldwide oil and gas
industry.